Oppenheimer & Co. Inc. Increases Stake in Altus Power, Inc. (NYSE:AMPS)

Oppenheimer & Co. Inc. grew its position in Altus Power, Inc. (NYSE:AMPSGet Rating) by 100.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,000 shares of the company’s stock after acquiring an additional 20,000 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Altus Power were worth $252,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in AMPS. JPMorgan Chase & Co. purchased a new stake in shares of Altus Power in the first quarter valued at $39,000. Royal Bank of Canada purchased a new stake in shares of Altus Power in the first quarter valued at $46,000. Strs Ohio purchased a new stake in shares of Altus Power in the second quarter valued at $61,000. Victory Capital Management Inc. purchased a new stake in shares of Altus Power in the first quarter valued at $62,000. Finally, Citigroup Inc. purchased a new stake in shares of Altus Power in the first quarter valued at $67,000. Hedge funds and other institutional investors own 43.73% of the company’s stock.

Insider Activity at Altus Power

In other Altus Power news, major shareholder Altus Holdings Lp Gso sold 7,000,000 shares of the firm’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $11.01, for a total transaction of $77,070,000.00. Following the completion of the transaction, the insider now directly owns 21,825,125 shares of the company’s stock, valued at approximately $240,294,626.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 41.04% of the stock is currently owned by insiders.

Altus Power Stock Performance

Shares of Altus Power stock opened at $7.06 on Friday. The firm has a market capitalization of $1.10 billion, a P/E ratio of -352.82 and a beta of 0.67. The company has a quick ratio of 11.48, a current ratio of 9.66 and a debt-to-equity ratio of 1.46. The company has a 50 day moving average price of $10.22 and a 200 day moving average price of $8.66. Altus Power, Inc. has a 52 week low of $4.26 and a 52 week high of $14.72.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Morgan Stanley increased their target price on shares of Altus Power from $12.50 to $14.00 and gave the company an “equal weight” rating in a research note on Thursday, September 22nd. UBS Group started coverage on shares of Altus Power in a report on Tuesday, October 25th. They set a “buy” rating and a $14.00 target price on the stock. Finally, JPMorgan Chase & Co. upgraded shares of Altus Power from a “neutral” rating to an “overweight” rating and set a $10.00 target price on the stock in a report on Monday, November 14th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $12.75.

About Altus Power

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Altus Power, Inc, a clean electrification company, originates, develops, owns, and operates roof, ground, and carport-based photovoltaic solar energy generation and storage systems. It serves commercial, industrial, public sector, and community solar customers. The company was founded in 2013 and is based in Stamford, Connecticut.

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Institutional Ownership by Quarter for Altus Power (NYSE:AMPS)

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